Naidan has a small retail business selling women's and men's clothing. She started her business in 2007, right after her retirement. She frequently travels to Ereen, a Chinese border town where products are imported, and buys cheap clothing from wholesalers. She rents a stall in the Norjin Shopping Center, one of the city's large shopping centers, and sells her products. She requests a loan to purchase more imported clothing from Ereen, China.
About XacBankThis loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.
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Success!! The loan was 100% repaid